Blockchain.com seeks U.S. Commodity Futures Trading Commission approval to launch forecast markets:

Blockchain.com applied for permission from the U.S. CFTC to launch forecast market "event contracts" and crypto derivatives.

According to media reports, Blockchain.com has submitted an application to the U.S. Commodity Futures Trading Commission (CFTC) to seek regulatory approval, aiming to launch forecast market "event contracts" and some cryptocurrency derivatives to U.S. and institutional clients. According to CNBC, the company has submitted two different types of CFTC license applications in a bid to include its business in the agency's derivatives regulatory framework.

If approved, the license applied will allow Blockchain.com to operate as an event contract futures exchange and act as a broker for cryptocurrency derivatives. The move comes at a critical moment when courts are testing the legal boundaries of predicting markets, especially when it comes to elections and other regulated areas.

Core Points

• It is reported that Blockchain.com has applied to the CFTC for two types of licenses: designated contract market (DCM) and futures commission trader (FCM) to conduct event contracts and derivatives brokerage business.
• After receiving regulatory approval, the platform will be able to operate its own event contract trading market rather than relying solely on third-party integrated services.
• Forecast market regulation in the United States remains uncertain, litigation arising from state enforcement actions continues, and issues of federal and state jurisdiction remain controversial.
• CFTC Chairman Michael Selig continued to highlight rulemaking work related to the security of crypto assets, citing lessons learned from the FTX collapse.

Blockchain.com seeks CFTC permission to conduct event contracts and derivatives business

According to CNBC, Blockchain.com applied for two CFTC licenses to support its product portfolio covering prediction markets and cryptocurrency derivatives. Under the CFTC framework described by CNBC, the Designated Contract Market (DCM) mandate will allow the company to operate exclusively as a futures exchange for event contracts. At the same time, a Futures Commission Merchant (FCM) license will allow Blockchain.com to represent derivatives contracts.

For market participants, the practical implications are obvious: approval will provide a compliance path for the platform to issue contract-based products linked to real-world events. In this area, due to different product structure designs and different determinations by major regulatory agencies, law enforcement efforts have always differed in history.

Integration from Polymarket to potential self-built markets

Blockchain.com previously announced plans to partner with Polymarket in July this year to position the integration as part of the in-app predictive market experience. However, the reported CFTC filing suggests that the company is exploring another path: offering event contracts through markets it directly authorizes, subject to approval.

这种潜在的转变意义重大，因为第三方整合和“平台分发”通常不具备与运营交易所相同的监管责任。如果 Blockchain.com 获得 CFTC 对 DCM 和 FCM 角色的批准，它可以减少对合作伙伴在核心交易所功能上的依赖，同时在其产品体系中引入更多的控制权——以及更多的监管审查。

预测市场仍是美国的法律博弈场

CFTC 的方法正受到密切关注，但预测市场也面临着来自州层面的并行法律压力。关于预测市场平台应如何监管的问题——特别是涉及涉嫌对体育比赛和选举进行投注的违规行为——在美国法院中一直存在激烈争议。

今年早些时候，新泽西州官员据报道已向法院系统提交请愿书，要求审查其对 Kalshi 提起的案件。据报道，该请愿书旨在解决联邦与州监管机构之间的纠纷，这种动态一直是该行业持续不确定性的核心所在。

这对 Blockchain.com 等公司至关重要，因为预测市场的监管环境可能不仅仅由机构行动决定。即使联邦许可已在讨论之中，法院的裁决仍可能影响平台如何设计产品、支持哪些类别的事件，以及需要满足监管机构和法院要求的合规模式。

CFTC 领导层推动加密规则制定，引用 FTX 案例

The application was filed against the background of the formulation of CFTC rules in the United States. Although progress has been uneven, the momentum continues. This week, CFTC Chairman Michael Selig defended the agency's strategy of moving forward through rulemaking rather than waiting for Congress to legislate, pointing to the lessons of the FTX collapse.

In an interview with Fox Business on Wednesday, Selig reportedly argued that proposed rules for companies seeking to register as licensed crypto entities would introduce "security guarantees in the crypto spot market" and referred to the failure of FTX. On Friday, he also reportedly posted that the agency's rules would prevent "client funds from being stolen, as we saw in the FTX incident," positioning the rulemaking agenda on investor protection and risk control.

Selig is described as the only commissioner and chairman of the CFTC, with four other seats vacant. He has expressed his intention to implement former President Donald Trump's crypto agenda and has claimed that the CFTC has exclusive jurisdiction over forecasting markets-a claim that in practice directly coexists with ongoing state litigation surrounding forecasting market activities.

For investors and practitioners, this tension is noteworthy: Although the CFTC is advancing the licensing path, court and state enforcement actions are still testing the boundaries of regulatory power. The outcome of these disputes will determine how quickly market participants can expand products that are on the verge of regulated contracts and prohibited gambling.

Blockchain.com's application signals to the industry

According to reports, Blockchain.com's filing with the CFTC highlights a broader model in the U.S. crypto industry: Companies are increasingly trying to align their product ambitions with existing derivatives and futures regulatory structures. Forecasting markets-once considered niche or informal areas-are being brought into the mainstream regulatory landscape, especially as platforms package event-hooking tools to mass audiences.

Still, approval is not taken for granted. Even if licensed, companies may face additional restrictions, depending on the outcome of the law and how courts interpret the division of powers between federal agencies and states. Therefore, market participants should view any "license application" as a step towards clarity rather than an end to uncertainty.

It is worth watching next whether the CFTC will grant Blockchain.com 's DCM and FCM requests, and further developments in the U.S. court system in predicting markets-particularly any rulings that may clarify the interaction of the roles of federal and state regulators. These decisions may shape who can provide what event-linked products across the industry.